Agribusiness
SIPH (SIFCA/Michelin) to raise funding of $95m after its withdrawal from Euronext

SIPH (SIFCA/Michelin) to raise funding of $95m after its withdrawal from Euronext

Upon completion of the delisting operation, Société Internationale de Plantation d’Hévéas (SIPH) will be owned 60% by SIFCA and 40% by Michelin, according to exclusive information obtained by Jeune Afrique Business+.

Someone shares this article with you
            ▪ SIPH (SIFCA/Michelin) to raise funding of $95m after its withdrawal from Euronext

▪ Upon completion of the delisting operation, Société Internationale de Plantation d’Hévéas (SIPH) will be owned 60% by SIFCA and 40% by Michelin, according to exclusive information obtained by Jeune Afrique Business+.

http://www.jeuneafriquebusinessplus.com/en/801568/siph-sifca-michelin-prepare-une-levee-de-fonds-de-quelque-85-millions-e-apres-le-retrait-deuronext/

17/12/2019 at 18h10, by Gaëlle Arenson, updated 18/12/2019

For this withdrawal operation from the Paris Stock Exchange, which was formalised on 10 December, SIFCA SA, led by Pierre Billon and Alassane Doumbia, and Compagnie Générale des Établissements Michelin SCA, headed by Florent Menegaux, took advantage of France’s new PACTE (Action Plan for Business Growth and Transformation) law. Promulgated on 22 May, this legislation lowers the mandatory withdrawal threshold to 90% of the shareholding, compared with 95% previously. This will enable the two main owners of SIPH, who had acquired enough capital (93.57%), to initiate the withdrawal on which they had been working for six months.

To read the article and discover your subscription benefits

You are connected to your Jeune Afrique account but your Jeune Afrique Business+ subscription does not allow you to consult the English version. To update your subscription, contact us by clicking here.

Recommended articles

Agribusiness

28/08/2020 at 19h21, by Aurélie Benoit, updated 30/08/2020

SIPH (SIFCA/Michelin) preparing for €280m investment programme

West Africa’s number one rubber producer is seeking financing from several institutions eight months...

Any questions ? contact us

Please get in touch with the Jeune Afrique Business+ team if you require any further information.

Email us : abonnements@jeuneafriquebusinessplus.com

Add JAB+ to your home screen

1. Click on + at the bottom of your screen.

2. Click on + to add JAB+ on the home screen.

3. Enter the name of the shortcut and confirm.